Combining behavioural science research and technology could increase your engagement levels and ensure employees value their benefits.
Engagement with and understanding the value of pensions remains very low. The way in which people now interact and react to messages is vastly different compared to a decade ago, so why should pension communication be any different? Each one of us receives over 2000 information messages a day, how do you make yours stand out from the noise?
See how personalised pension video statements can help to create positive behavioural changes in your people. Our demo video is a talking annual statement for "David", an employee at "Company Plc", designed to encourage him to increase his contributions. All personal data points can be personalised for your employees.
Science + Digital = pension engagement
Mercer has teamed up with DIGITAITM founded by Professor Shlomo Benartzi, behavioural economist, to combine science and digital innovation to enable the personalisation of pension communication. The challenge of improving financial decisions is rooted in three distinct factors: engagement, education, and empowerment. Our white paper, created in collaboration with DIGITAITM and Professor Shlomo Benartzi, analyses these factors and discusses how two behavioural insights — personalisation and timing — can dramatically improve the impact of financial communication.
The volume of data available to us presents a huge opportunity to personalise many forms of pension and other benefit communications. The principles discussed in this white paper can be applied across a variety of technology platforms and communication channels.
Why do I need this?
Are you trying to improve employee engagement and ensure that employees value your DC scheme? If so, this is the tool to help you achieve this by encouraging your people to understand and engage with their retirement savings plan and increase their annual savings rate, where appropriate.